United States to exempt eight nations from Iran sanctions snapback

04/11/2018

Turkey has been told it will temporarily be allowed to keep buying Iranian oil, its energy minister told reporters, as has Iraq, as long as it does not pay Iran in USA dollars, three Iraqi officials said.

Pompeo said Washington chose to issue the temporary waivers "only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts".

On the issue of renewed sanctions on Iran that kick in on Monday, Pompeo said that European countries are already fleeing the country.

Treasury Secretary Steve Mnuchin said the USA has "gone after the financial networks that the Iranian regime uses to fuel its terrorist proxies in Hezbollah and Hamas, to fund the Houthis in Yemen, and to support the brutal Assad regime in Syria".

U.S. President Donald Trump has suggested he is open to a new comprehensive deal with Iran, saying that till then the toughest-ever sanctions on the West Asian country that kick off on Monday would continue.

On the conference call, Treasury secretary Steve Mnuchin responded to these criticisms by calling it "misinformation" and stating the administration would indeed be imploring SWIFT to cut off designated Iranian institutions.

The reimposition of sanctions "is aimed at depriving the regime of the revenues it uses to spread death and destruction around the world", Pompeo said.

Under the 2015 deal, most of the global financial and economic sanctions on Iran were lifted in return for Tehran curbing its disputed nuclear activity under United Nations surveillance. "The other six will import at greatly reduced levels", Pompeo said.

Trump said the deal, approved by predecessor Barack Obama, was weak and flawed in Iran's favour.

U.S. sanctions on Iran will come in effect on November 5.

"As parties to the JCPOA, we have committed to work on ... the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas".

As a result, sanctions lifted by the USA and others in 2016 are now being unilaterally re-imposed by the United States.

If the United States does in the end follow through on its strongest threats, choking off Iranian supplies entirely, that spare capacity could be completely exhausted, leaving nearly nothing left to cover unexpected disruptions in other trouble spots. "It is obviously impossible to exclude Iranian oil from the market", Kardor told ISNA.

"The reimposition of US sanctions has begun to harm Iran's economy as major companies exit the Iranian economy rather than risk being penalized by the United States", the report said.

On Saturday night, Israeli Prime Minister Benjamin Netanyahu in a statement thanked U.S. President Donald Trump for reimposing the sanctions. Iran is the world's No. 3 oil exporter.

Anger and distrust over the U.S. is surging again following Mr Trump's decision to withdraw from landmark nuclear deal with world powers despite Tehran's compliance with the agreement, which was negotiated under the Obama administration.

In his speech, he warned that undermining the central bank's independence could be "potentially catastrophic". Section 7 allows the govt to override RBI's autonomy. "Only the final decisions taken are communicated".

Front-month Brent crude futures were at $73.04 per barrel early on Friday, up 15 cents, or 0.2%, from their last close. In Friday trading, Brent crude was priced above US$72 with WTI (West Texas Intermediate) holding above US$63 a barrel.

Nintendo has previously said it will release another smartphone title, Mario Kart Tours, sometime before April. Smartphone games revenue in the quarter rose 9 percent from a year ago to 9.7 billion yen.

Israel and Saudi Arabia do not have diplomatic relations but share intelligence about their mutual enemies, especially Iran. What has his fiancée said? She described the "anguish" she experienced since his " brutal, barbaric and ruthless " death.

Effective November 1, 2018 Tippecanoe Valley School Corporation will relocate the bus stop on State Road 25 into the Meiser Park. Slocum said authorities were interviewing the driver, but that it was unclear if she would face charges in the deaths.

During the summer, however, Iranian oil sales to India averaged much higher, topping out at a record 768,000 bpd during July. He has released a list of 12 demands that Iran must meet if it wants the sanctions lifted.

Posters of Modi with Gujarat chief minister Vijay Rupani were torn down or had their faces blackened at the weekend. According to local media reports, at least 16 tribal leaders were detained on the eve of the inauguration.

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